Tudor Investment Corp ET AL Buys 115,653 Shares of Perimeter Solutions, SA $PRM

Key Points

• Tudor Investment Corp increased its stake in Perimeter Solutions by 395.5% in Q3, buying an additional 115,653 shares to hold 144,893 shares worth about $3.24 million (roughly 0.10% of the company).
• Perimeter beat quarterly estimates with EPS of $0.13 (vs. $0.09) and revenue of $102.75M (vs. $94.05M), but the company still posts a negative net margin (−31.61%) and carries a consensus analyst rating of Hold with an average price target of $30.50.
• A director, William N. Thorndike Jr., sold 100,000 shares on March 10 (part of 450,000 shares insiders sold worth $10.72M over the quarter), though company insiders still own about 10% of the stock.

Tudor Investment Corp ET AL boosted its position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 395.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,893 shares of the company's stock after purchasing an additional 115,653 shares during the period. Tudor Investment Corp ET AL owned about 0.10% of Perimeter Solutions worth $3,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRM. Comerica Bank boosted its position in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after acquiring an additional 1,324 shares during the last quarter. Royal Bank of Canada boosted its holdings in Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company's stock worth $812,000 after purchasing an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Perimeter Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company's stock valued at $801,000 after purchasing an additional 3,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Perimeter Solutions by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company's stock valued at $3,305,000 after buying an additional 14,949 shares during the last quarter. Finally, Swiss National Bank lifted its position in Perimeter Solutions by 0.9% during the 2nd quarter. Swiss National Bank now owns 271,700 shares of the company's stock worth $3,782,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $21.45 on Friday. The business's 50 day moving average is $25.20 and its 200-day moving average is $25.13. The firm has a market cap of $3.20 billion, a P/E ratio of -15.10 and a beta of 1.98. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $29.88. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The firm had revenue of $102.75 million for the quarter, compared to analyst estimates of $94.05 million. Equities research analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRM shares. UBS Group reduced their price objective on shares of Perimeter Solutions from $31.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, March 4th. Weiss Ratings lowered Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, March 2nd. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research note on Monday, December 15th. Finally, Zacks Research lowered Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Perimeter Solutions currently has an average rating of "Hold" and a consensus price target of $30.50.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $23.63, for a total transaction of $2,363,000.00. Following the sale, the director directly owned 8,635,656 shares of the company's stock, valued at $204,060,551.28. The trade was a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 450,000 shares of company stock worth $10,722,750 over the last quarter. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Profile

Perimeter Solutions Ltd. NYSE: PRM is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company's core product portfolio spans several key segments.

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